Category: Business Insider

  • Take a look inside the California estate celebrity photographer Annie Leibovitz just listed for $8.995M

    A view of the structures on Annie Leibovitz's California estate
    Annie Leibovitz's estate in Bolinas, California, had previously been photographed by famed American photographer Ansel Adams.

    • Celebrity photographer Annie Leibovitz bought her California farm estate in 2019 for $7.5 million.
    • She just listed the property, featuring a 7-horse barn and recording studio, for $8.995 million.
    • Take a look inside the sprawling 65-acre grounds nestled near the Bolinas Lagoon. 

    Five years after purchasing a historic property in rural California, celebrity photographer Annie Leibovitz has placed her dream home back on the market.

    "I had always thought of myself as a California person," she said in a statement to Business Insider. "I went to school there, at the San Francisco Art Institute. I learned to be a photographer there."

    She added, "When Rolling Stone moved to New York in 1977, I didn't think that I was moving too. I didn't believe that I went to New York to stay. I thought I lived in California. But the work was in New York. Or Europe. After all those years living and working in New York and raising my children, I dreamed about returning to California."

    After some years of searching, she purchased an estate in Bolinas, California, for $7.5 million in 2019, as first reported by The Wall Street Journal. This month, she listed the property for sale, asking $8.995.

    Take a look inside the property that captured this famous photographer's eye.

    The estate, nicknamed The Hideaway, is nestled on 65 acres with views of Bolinas Lagoon, Stinson Beach, Mount Tamalpais, the Pacific Ocean, and San Francisco.
    An aerial view of Annie Leibovitz's California estate
    An aerial view of Annie Leibovitz's California estate

    The property has sprawling vistas of rolling hills and verdant pastures. It's located near bird and seal sanctuaries and is about an hour from San Francisco. Considered a historical touchpoint in the region, the property sits near the small coastal towns of Bolinas and Stinson Beach.

    The property includes a circa-1920s house with four bedrooms and a one-bedroom guest house.
    A view of the bedroom in Annie Leibovitz's California estate
    A view of the bedroom in Annie Leibovitz's California estate

    The residential portion of the property features four structures, including a 1920s home with four bedrooms, a guest house, a caretaker's residence, and a converted garage. Adjacent to the residences is a barn built in the 1930s, a banquet hall with a performance stage, and a second large barn.

    The kitchen is a new addition to the residence that Leibovitz upgraded, featuring a subway tile backsplash and gas range.
    A view of the kitchen in Annie Leibovitz's California estate
    A view of the kitchen in Annie Leibovitz's California estate

    Leibovitz said in a statement to Business Insider that she had longed to find the perfect place to make her home on the West Coast, and when she purchased the property, she thought she'd found it.

    "We were told of this extraordinary property that from the top of the hill had views of the lagoon and bay and the coast that are magnificent. It has its own special climate," Leibovitz said. "Everything can grow year round. There were 65 acres with an old milking barn that Ansel Adams had photographed. It had been used as a gathering place for country and folk music concerts in its day. We planned to partner with a legendary farmer over the hill to bring the place back to its former self as a working and teaching farm."

    Leibovitz remodeled portions of the property but kept key fixtures like this rotary phone.
    A view of the rotary phone that still hangs on the wall in Annie Leibovitz's California estate
    A view of the rotary phone that still hangs on the wall in Annie Leibovitz's California estate

    "I've spent many holidays with friends in Bolinas," Leibovitz said. "When the children were born we would go together and they would surf and pick up shells and stones along the shore. And I would occasionally look for "the place."

    So when her oldest daughter seemed to be eyeing colleges in the Bay Area, Leibovitz snapped up the property.

    But, she said, "things don't always go as planned."

    "All three of my girls decided to go to college in the Northeast," prompting her to list the property for sale just five years later.

    A weathered barn on the estate had previously been photographed by photographer Ansel Adams.
    A barn on Annie Leibovitz's California estate
    A barn on Annie Leibovitz's California estate

    Adams snapped a shot of a barn on the farm during his travels through the West in 1932, with one photo later becoming part of a Smithsonian exhibition. Nearly a century later, Leibovitz came to own the property and continued its legacy of attracting iconic photographers to its grounds.

    In addition to a hay barn and dairy barn, the property includes a 7-stall horse barn.
    A view of the stable inside Annie Leibovitz's California estate
    A view of the stable inside Annie Leibovitz's California estate

    The equestrian-focused property features a 100' x 200' riding arena adjacent to the 7-stall barn. It includes multiple additional horse and livestock stalls and pastures along the expansive property.

    Inside the old dairy barn is a complete recording studio built by a prior owner.
    A view of the recording studio added to the dairy barn on Annie Leibovitz's California estate.
    A view of the recording studio added to the dairy barn on Annie Leibovitz's California estate.

    Prior to Leibovitz's purchase in 2019, the Bolinas farm was owned by Warren Hellman, a San Francisco financier and founder of the Hardly Strictly Bluegrass music festival. He converted an unused farm building on the property into a music studio and another into a music venue to host private concerts.

    For now, the historic property sits idle, waiting for its next owner to take control of its legacy.
    A view of one of the barns at Annie Leibovitz's California estate.

    "The Hideaway at 605 Horseshoe Hill Road stands as a historic property with generations of notable stewardship," Compass agent Alexander Lurie, who is co-listing the property with Nick Swenson, told Business Insider. "The site of many special events, concerts, and weddings over more than a century, The Hideaway has an indelible place in history — both for the SF Bay Area as well as globally — this special space has served as a launching pad of creative inspiration for renowned musical and visual artists of international repute."

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  • Tesla is blaming struggling EV sales on hybrid craze

    Elon Musk
    Elon Musk

    • Tesla is blaming hybrids for stealing EV sales.
    • Inexpensive hybrid cars have become a popular choice for green-car shoppers.
    • That's a real problem for Tesla, which doesn't sell hybrids.

    Tesla is pointing the finger at hybrids as its electric cars experience a drop in demand.

    In the opening page of its first-quarter earnings presentation Tuesday, Tesla blamed an industry-wide prioritization of these partially battery-powered cars for putting pressure on global EV sales and — by extension — Tesla's sales.

    "While positive for our regulatory credits business, we prefer the industry to continue pushing EV adoption, which is in-line with our mission," Tesla wrote.

    Elon Musk's Tesla is right that hybrids are currently having a moment.

    Major automakers like GM — which were once all-in on EVs — are now prioritizing hybrid models as EV demand softens, and Toyota, once thought to be an EV laggard, is dominating the green car market with its hybrid lineup.

    The problem for Tesla: It doesn't sell hybrids.

    Musk's EV company has been slashing prices for the past year and a half in an effort to boost sales. But a new cohort of green-car shoppers is looking for more than an affordable price.

    After years of wealthy early adopters clamoring for expensive new technology, today's EV shopper is more frugal and practical — and more interested in hybrid models that fit their everyday needs.

    This phenomenon showed up in Tesla's first-quarter deliveries report earlier this month when the company reported its lowest quarterly sales numbers since 2022.

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  • Tesla just said it’s going to launch cheaper EVs sooner than expected

    Elon Musk
    Elon Musk's dream of cheaper Teslas is being realized.

    • Tesla says cheaper models are coming sooner than they'd planned.
    • The news comes as the carmaker announced Q1 results and noted global EV sales are under pressure.
    • CEO Elon Musk has long promised the launch of a $25,000 Tesla.

    Tesla is pivoting its plan for vehicle production amid a steep revenue drop in the first quarter of 2024.

    The electric vehicle maker said Tuesday it will be launching "new and more affordable products" ahead of its previous timeline, which had predicted production to start in the second half of 2025.

    To make the process move along faster, the new EVs "will be able to be produced on the same manufacturing lines as our current vehicle line-up," it said.

    "Ultimately, we are focused on profitable growth, including by leveraging existing factories and production lines to introduce new and more affordable products," the company said.

    Tesla's revenue slumped 9% year-over-year in Q1 — the steepest drop since 2012. Deliveries of its vehicles fell 9%, far faster than its 2% drop in production.

    "Global EV sales continue to be under pressure," it also said today.

    In recent weeks, Tesla has slashed the prices of the Model S, X, and Y in the US and China. It has faced stiff competition from Chinese automakers who also slashed vehicle prices.

    Since 2020, Musk has claimed that a $25,000 EV is attainable in the near future. It has also launched the Cybertruck —with a retail price that can reach six figures.

    The company is also turning to job cuts. CEO Elon Musk told staff earlier in April that Tesla plans to slash more than 10% of its workforce.

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  • Trump thought hush money was risky because ‘It always gets out,’ National Enquirer exec testifies. In this case, Trump was right.

    A court artist's sketch of former National Enquirer publisher David Pecker.
    A court artist's sketch of former National Enquirer publisher David Pecker.

    • Donald Trump's Manhattan hush-money trial is in its second week.
    • On Tuesday, ex-tabloid publisher David Pecker described Trump's prophetic hesitancy over hush money.
    • "It always gets out," Pecker testified Trump told him.

    Donald Trump should have gone with his gut on this one.

    In the summer before his election, the then-candidate wanted nothing to do with buying the silence of a Playboy Bunny.

    Model Karen McDougal was shopping around a story of a love affair with Trump from ten years prior. But Trump was queasy about the required payoff, according to testimony on Tuesday in the former president's Manhattan hush-money trial.

    "It always gets out," Trump explained of his hesitancy, according to the trial's first witness, former National Enquirer publisher David Pecker.

    Trump's words — and his worries — would prove prophetic.

    Not only would news of McDougal's $150,000 payoff eventually "get out," but so would the $130,000 payoff to a second sex-accuser, porn star Stormy Daniels — the very payoff behind Trump's ongoing hush-money trial.

    Trump has strenuously denied having an affair with either of the women. Trump has also derided as a political "witch hunt" District Attorney Alvin Bragg's accusations that he falsified business documents to disguise the Daniels payment as "legal fees."

    Bragg says the documents were falsified to hide what was actually an illegal campaign expenditure meant to keep 2016 voters from finding out about Daniels.

    "I think the story should be purchased and you should buy it," Pecker told jurors, describing what he told Trump about McDougal's accusations during a June, 2016 phone call.

    Pecker had been helping his friend Trump for years, he told jurors, through a so-called "catch-and-kill" strategy where dangerous stories would be purchased by the tabloid and "taken off the market" instead of published.

    But Trump wanted nothing to do with the McDougal payoff, Pecker said Tuesday, his second day on the witness stand.

    "He says, 'I don't buy any stories,'" Pecker testified, describing Trump's reaction to the five-woman, seven-man jury.

    "He said, 'Any time you do something like this, it always gets out.'"

    Trump indeed kept his fingerprints off the $150,000 in National Enquirer cash that purchased McDougal's silence, prosecutors for Bragg allege. The cash came out of Pecker's pocket.

    But Trump is now on trial for a second hush-money payment that prosecutors say has Trump's fingerprints all over it — the payment to Daniels.

    Trump used a middleman — his then-fixer, Trump Organization lawyer Michael Cohen — as bag man to handle the $130,000 transfer, prosecutors say.

    Just 11 days before the election, Cohen transferred the money — hastily borrowed through a home-equity loan — into a shell company's bank account, and from there to Daniels' lawyer, jurors were told during opening statements.

    In an election where just 80,000 votes in three swing states tipped the scales in Trump's favor, voters never heard Daniels' tale — an alleged fling at a Tahoe golf tournament in 2006, when Melania Trump was home nursing baby Barron.

    Trump falsified 34 Trump Org business documents to disguise the monthly reimbursement payments to Cohen as "legal fees" paid throughout his first year in office.

    In reality, the 34 documents covered up what was instead an illegal campaign expenditure, prosecutors say.

    The trial is down on Wednesday. Pecker's direct testimony is scheduled to continue Thursday.

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  • Tesla just launched a new souped-up Model 3 as it battles slumping sales

    A Tesla Model 3 fully electric EV car is displayed during the Everything Electric London 2024 at ExCel on March 28, 2024 in London, England.
    Tesla announced an update of its Model 3, pictured here on March 28, 2024, in London, England.

    • Tesla unveiled an upgraded version of its Model 3 Performance sedan on Tuesday.
    • Tesla said the new Model 3 has more power, reduced energy consumption, and improved handling.
    • The announcement follows a decline in sales, layoffs, and a drop in Tesla's stock.

    Tesla announced a new version of its Model 3 sedan on Tuesday as the electric vehicle maker faces a decline in sales.

    The upgraded Model 3 Performance, which starts at $52,990, can go from zero to 60 mph in 29 seconds and has a top speed of 163 mph, according to Tesla.

    Tesla said the vehicle has more power with less energy consumption compared to the previous Model 3 Performance version. The company said it also has a new adaptive damping system that adjusts to inputs from the driver and the road in real time for better handling, among other changes.

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    The announcement came just before Tesla reported its quarterly earnings on Tuesday and as demand for electric vehicles, including Tesla's, has been declining.

    Tesla's first-quarter earnings report revealed the company fell short of its profit and revenue estimates, but was up on gross margin. Tesla also previewed its upcoming ride-hailing service and said it plans to move up the production timeline for cheaper electric vehicles.

    Tesla sold about 386,800 cars in the first quarter of 2024, about 20% less than the last quarter of 2023. The figure fell far short of Wall Street's expectations and marked the first year-over-year decline in sales for Tesla since 2020.

    Shortly after the disappointing quarterly sales report, Tesla laid off more than 10% of its entire workforce earlier this month, with CEO Elon Musk citing a "duplication of roles" that occurred during the company's rapid growth.

    The company issued another round of price cuts on its vehicles on Monday, with Tesla's stock down 42% year-to-date at market close on Tuesday.

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  • Mark Zuckerberg finally spilled the beans about his new chain necklace look

    Mark Zuckerberg has been leaning into his own version of mob chic lately. The Meta founder has been wearing chain necklaces like a rapper straight out of the 2000s.
    Mark Zuckerberg set the record straight about his new look.

    • Mark Zuckerberg revealed the reason for his new chain necklace.
    • The Meta exec said he's designing his own piece of jewelry with a heartfelt message.
    • The internet has been flooded with memes and compliments since Zuckerberg debuted the new look.

    The hype around Mark Zuckerberg's new chain lives on, and the story behind it is pretty endearing.

    The Meta CEO spoke with Eva Chen, head of Instagram's fashion partnerships, about new developments for its Ray-Ban smart glasses, and spilled more information on his viral accessory choices.

    "I'm in the process of designing a long-term chain," he said in a Tuesday Instagram post.

    As part of his "design process," he said he's testing out necklaces that will eventually hold an engraving of the prayer he reads to his daughters.

    Zuckerberg was spotted wearing a shorter-looking chain last week, prompting memes and talk of a "glow-up." (Another popular image floating around was of the billionaire photoshopped to look like he has a beard, but the chain is definitely real.)

    This new venture into fashion has drawn comparisons to current "mob chic" trends and rapper swag. But, Zuckerberg said the necklace boils down to a sentimental gesture to his children.

    Either way, the move has certainly earned the Meta chief some internet cool points — although perhaps not from Instagram's Chen, who suggested the chain he was wearing in Tuesday's video should be a bit shorter.

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  • Tesla reveals what its Uber-like robotaxi app would look like

    Tesla Model 3
    Tesla is planning to launch a ride-hailing service.

    • Tesla just gave us a peek at its planned ride-hailing interface.
    • Elon Musk's company is emphasizing its self-driving and robotaxi businesses as EV demand softens.
    • Tesla hasn't said when it would launch a ride-hailing service.

    Tesla on Tuesday released more details about its planned launch of an Uber-like ride-hailing service.

    The service would live inside the Tesla app, which Tesla owners can already use for almost all vehicle functionality, the company said.

    Tesla's Q1 earnings presentation contained screenshots illustrating a moody black-and-white interface that would allow riders to summon a supposedly driverless vehicle, set the car's interior temperature, and track its location on a 3D map.

    Preview of ride-hailing interface in the Tesla app
    Preview of ride-hailing interface in the Tesla app

    Tesla has placed more focus on the potential value of its self-driving software and robotaxi business as softening EV demand pinches sales and price cuts take a bite out of Tesla's mighty automotive profit margins. Tesla CEO Elon Musk announced earlier in April that the company would reveal a long-awaited robotaxi in August. 

    Despite pushback from safety groups and high-profile legal troubles, Tesla has pushed forward with new iterations of its driver-assist software, which it calls "Full-Self Driving" or FSD. Tesla has also said it is working on ride-hailing functionality to be available sometime in the future.

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  • Here’s why the internet keeps telling people to look at their keyboards

    A woman writes a message in the app Whatsapp.
    Social media users are using keyboard letters to spell out all sorts of different messages.

    • A new social media trend is urging users to "look between" certain letters on their keyboard.
    • People are spelling out messages like "U," "WE," and "JK" in all sorts of different contexts.
    • Not everyone is thrilled about the trend, and some are calling it engagement bait.

    If you've been on social media at all recently, chances are you've been opening your keyboard more than usual.

    That's because of a new trend that is enthralling — and irritating — thousands of users on X and other similar platforms.

    The trend, which urges users to "look between" certain letters on your keyboard, apparently originated with a post on 4chan in May 2021 according to a submission to Know Your Meme. That post included a picture of Yui Hirasawa, the main character of a popular anime series, along with the caption "look between t and o" on your keyboard, yielding the character's first name.

    It's not clear how that post led to the trend exploding years later — but with viral memes like this, stranger things have happened.

    Many of the posts start with an unlikely or outlandish detail and then tell you to look between the H and L keys, which falls on the letters "JK" — in other words, "just kidding."

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    But others are using it in more creative ways — everything from labeling their favorite sports players a "G" (for "GOAT", or Greatest of All Time) to filling in the words of Jesus. Brands have even gotten in on the trend to promote their own products.

    Some on social media have used it as a tongue-in-cheek way of spreading positive or motivational messages.

    https://platform.twitter.com/widgets.js

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    But more than a few posts that have jumped on the trend for sillier purposes:

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    That doesn't mean the trend is popular with everyone. In fact, many people seem to have gotten annoyed by it pretty quickly.

    Some online have suggested that the trend is "engagement bait," claiming that when you click the reply button to check your keyboard, it is read by the X algorithm as an engagement with the original post — even if you don't actually reply.

    (It's unclear if that's actually how the algorithm actually works; X did not return a request for comment)

    In any case, there are plenty of users who are tired of looking at their keyboards.

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  • Billionaire Columbia donor Leon Cooperman slams student protesters

    Leon Cooperman; Columbia protests
    Leon Cooperman, a billionaire Columbia donor, has spoken out against the protesters on campus who are calling for a divestment from Israel.

    • Leon Cooperman, a billionaire Columbia donor, weighed in on the crisis on the University's campus.
    • He called the student protesters ignorant, though expressed his support for the school's president.
    • Unlike megadonor Robert Kraft, Cooperman said he's not pulling his donations.

    Wall Street titan Leon Cooperman is the latest billionaire to weigh in on student protests over Israel's war in Gaza.

    But unlike megadonor Robert Kraft, Cooperman said he'll continue to give to Columbia even as he trashed student demonstrators.

    During a CNBC interview on Tuesday, Cooperman, a Columbia University donor, was asked about the demonstrations on its campus, which have grown heated over the past week and resulted in more than 100 arrests.

    "Many of the college kids have shit for brains," he said, doubling down on comments he made last year and saying the students are "ignorant."

    (He apologized for his language during the interview, saying, "I grew up in the Bronx when it was more of an accepted terminology.")

    "They are advocating for the destruction of Israel," he said. "Israel is the only reliable ally the United States has in the Middle East, the only democracy in the Middle East."

    Cooperman also said Israel is the only country in the Middle East that "allows gays and lesbians to practice what they want to practice." While LGBTQ+ people experience discrimination in many countries, some nations in the region — including Cyprus, Jordan, and Turkey — have not criminalized same-sex activity.

    Cooperman blamed part of the unrest on people unaffiliated with Columbia who "are getting access to the school and creating this hoopla."

    He added that he believed Columbia's president Nemat "Minouche" Shafik and leadership are "trying to do the right things."

    Shafik appeared before Congress last week and took a strong stance against antisemitism, denouncing a professor who voiced support for Hamas and another who called the October 7 terror attacks "awesome."

    The same day as her remarks on Capitol Hill, a coalition of student groups — Columbia University Apartheid Divest, Columbia Students for Justice in Palestine, and Jewish Voice for Peace — set up "Gaza Solidarity Encampments" on Columbia's campus, protesting both the war in Gaza which has claimed thousands of civilian lives and demanding the university divest financially from Israel.

    The groups say the protests were peaceful and within their rights.

    When the students would not move as requested, Shafik requested the New York Police Department break up the protest, which led to the arrest of more than 100 protesters. Columbia and Barnard suspended students involved with the protest.

    That move sparked increased tensions, with separate antisemitic demonstrators taking to the area surrounding the campus, according to videos posted on social media. Jewish leaders at the school allege that Jewish students have been targeted with hateful rhetoric by demonstrators.

    On Monday, Columbia announced classes would be held virtually, and the campus has been closed to the public.

    Cooperman, who attended Columbia Business School, donated $25 million to the school in 2012 and has said he's donated closer to $50 million in total.

    "I try to give money to those schools that have made a difference to me in my lifetime. I don't think it's right, but I probably couldn't have gotten into Wall Street from Hunter College, where I got my undergraduate degree," he said. "I got an MBA from Columbia, and the very next day, I joined Goldman Sachs."

    He said he will continue to give to the school, though he will bookmark his gifts to stay within the business school.

    Kraft, the billionaire owner of the Patriots and another Columbia alum, announced he would be pulling all donations to the school "until corrective action is taken."

    He did not, though, specify what he meant by "corrective action." Kraft said he'd continue to support the school's Kraft Center for Jewish Student Life, which is named after him.

    Representatives for Cooperman and Kraft did not respond to requests for comment from Business Insider prior to publication.

    The conversation around giving and the relationship between billionaire donors and universities has been reignited in recent weeks following protests at Columbia, Yale, and New York University.

    Following the October 7 attack, tensions on college campuses erupted, prompting megadonors to criticize the responses of various university administrators. At Harvard and the University of Pennsylvania, billionaires including Apollo CEO Marc Rowan, Estée Lauder heir Ronald Lauder, and former Victoria's Secret Les Wexner pulled funding.

    Eventually, the presidents of the schools, Claudine Gay and Liz Magill, respectively, stepped down.

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  • The Lyrid meteor shower will align with April’s ‘pink moon.’ Here’s how to watch it.

    A side by side of a meteor shower over a river on the left, and a pink full moon against a black background on the right.
    The Lyrid meteor shower will coincide with April's "pink" supermoon tonight.

    • On Tuesday, the Lyrid meteor shower happens to line up with the April full moon, AKA the "pink" moon.
    • But this bright supermoon could make it harder to see the Lyrids streaking through the sky.
    • Here are some tips to give you the best chance of seeing the Lyrid meteor shower.

    The Lyrid meteor shower is in full swing this week. Every year from April 15 to April 29, dozens of shooting stars streak through the sky in this spectacular show.

    The meteor shower was most active from Sunday night to Monday morning, but it will remain visible for the next week.

    On Tuesday night, the Lyrids align with the April full moon, otherwise known as the "pink moon," which will rise at 7:49 p.m. ET.

    This supermoon isn't actually pink, but it is very bright. It's a stunning sight all on its own, but seeing it during a meteor shower is a rare astronomical opportunity.

    This moon shines so bright that it could make it difficult to see the Lyrids streaking through the sky. But you might be able to see a few.

    Here are some tips to give yourself the best chance of spotting some shooting stars.

    Timing is key

    A bright orange full moon partially obscured by a silhouette of trees.
    The brief period between moonset and the sunrise is when the sky is darkest, offering the best chance of seeing the Lyrid meteor shower.

    In the Northern Hemisphere, the best time to see the Lyrids is during the early morning hours after the moon sets and before the sun rises, according to NASA.

    If you're willing to get up before dawn on Wednesday, around 5:45 a.m. ET, that would give you the best chance of seeing the Lyrids. At that time, the moon won't blot them out with its bright glow.

    But if you're hoping to spot some shooting stars while the pink moon is still shining on Tuesday night, you'll want to make sure your surroundings are as dark as possible.

    Get out of town

    A starry night sky with milky way over a pond surrounded by forest.
    To reveal the stunning features of the night sky, you should find the darkest stargazing location possible.

    Light pollution can make it harder to see a meteor shower. If you can, it's best to find a viewing spot far away from city and street lights, NASA advises.

    Once you've picked your spot, lie flat on your back with your feet facing east and look up at the sky with as wide a view as possible — try not to have tree branches or buildings obstructing your view.

    After that, be patient. It will take about 30 minutes for your eyes to adjust to the dark, and then the meteors could begin to emerge.

    But again, because of the bright "pink" supermoon, stargazers may not see as many as they hope. Nevertheless, the moon will offer a show of its own.

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